Investors' Soapbox PM

CIT Issues to Weigh on Bank Sector

Fox-Pitt sees wider commercial-credit deterioration across the group.

Updated July 14, 2009 12:01 a.m. ET

Fox-Pitt Kelton Cochran Caronia Waller

CIT GROUP (TICKER: CIT) announced that it has yet to be approved for the Temporary Liquidity Guarantee Program (TLGP), rekindling investor fears regarding long-term viability of the company, due to lack of availability of diversified funding sources.